Oil Eases After 2 Weekly Gains as US Readies Toughest-Ever Iran Sanctions

2 articles · Updated · investinglive.com · Aug 23

Globex crude traded slightly lower Monday, extending a pullback after Brent ended Friday near $94 and WTI near $87 following back-to-back weekly gains of about 5% to 6%.
Scott Bessent is due at 2 p.m. EDT to unveil what he called the toughest sanctions in history on Iran, adding fresh pressure to a market already focused on Tehran.
Mohsen Rezaei warned Iran could halt all oil exports through the Strait of Hormuz and the wider Persian Gulf if the US economic campaign continues, and said countries joining sanctions would be treated as acting against Iran.
No single catalyst was tied to Monday's price dip, leaving traders to weigh the sanctions rollout, export threats and broader nuclear rhetoric as the week begins.